In 2017/2018 with the sharp increase in the price to the ATH of $18 000+, people were saying that Bitcoin can never be a currency with that kind of fluctuation and volatility in the price.
In the 3rd & 4th quater of 2018 up to Jan 2019, we have experienced a correction from that ATH and we are seeing much less volatility in the price.
Would you say that Bitcoin has shed it's speculator skin and emerged as a true currency, after this correction?
In the 3rd & 4th quater of 2018 up to Jan 2019, we have experienced a correction from that ATH and we are seeing much less volatility in the price.
Would you say that Bitcoin has shed it's speculator skin and emerged as a true currency, after this correction?
I do not think you should only watch last ATH and the correction that followed after that, but to remember all past pumps and correction. I think today's situation is not much different from 2013 and 82.6% drop or maybe 2015 and 86.7% drop, after which we have long period of stability. Now we are in bear market or crypto winter, and probably this kind of situation will take whole year or even more.
It is hard to believe that volatility is gone, it is just temporarily frozen until a new opportunity appears and price is skyrocket again. I personally hold back my crypto spending now just because of what is Pamoldar write, it is not same to spend at 20k $ or at 3.5k $ - It is quite obvious that at a higher price you get more in fiat value, and spend less in crypto.
However for people who invest few years ago in BTC at 200$, spending is today an attractive option despite the relatively low price. It only confirms that BTC can be great store of value, but also currency - the advantage is to combine both possibilities at the right time.
Yes, Lucius.. we have not seen the last of the wild volatility that we were used to, but for now most of the volatility has died down and much of this is due to less speculators pumping and dumping the coins.
They will return in their hoards if the SEC approve a Bitcoin ETF and then we will see even more volatility than before. The current price stability has a lot to do with less speculators in the markets and people hoarding their coins in anticipation for the next Bull market.
